Facebook tops $30 for first time since July

Facebook (FB) stock rallied nearly 4% Wednesday, crossing $30 a share for the first time in six months.

The social network sent media invitations late Tuesday for an event at its Menlo Park, Calif. headquarters on January 15. The invitation called for reporters to "Come and see what we're building," fueling speculation that the company will make a major product announcement.

Hitting $30.28 Wednesday, the highest level since mid-July, shares of Facebook are now up more than 70% from their all-time low hit in early September. But the company's stock is still 20% below the company's initial public offering price of $38.

The notable advance in the stock gave StockTwits users plenty to chat about.

chicagosean
Imagine the party in the offices of Morgan Stanley if/when $FB gets back to $40.

Morgan Stanley (MS) was the lead underwriter for Facebook's initial public offering in May. Shares of Facebook began falling almost immediately after their debut, and many criticized Morgan Stanley for overpricing the offering.

firstadopter
Biggest positive potential announcement from $FB press event on January 15 would be a search product. Investors would love that.

In September, while speaking publicly for the first time since Facebook's IPO, CEO Mark Zuckerberg highlighted the company's "big opportunity" in search, noting that users generate a billion searches on Facebook per day.

DragonHouse$FB these geeks have something up on Jan 15. What r they doing now? Then earnings on Jan 30. This kid just discovered how to run his stock up.

Hibah Yousuf is a reporter at CNNMoney, where she covers stocks, bonds, commodities and currencies trading across the globe, as well as corporate earnings and other markets-related news. Prior to joining the site in 2009, she interned at Money Magazine.